Yep, I understood your description well. IMO, opinion being the accent here, there's a lot of wheat that wont be able to access that N until later than the wheat close to the banded row. Some smaller amount may not even access it. IMO, you will see stripes of greener wheat in your field that follow the N bands. If you band with the drill rows, the wheat only has to grow about 3.75" roots to access the band. Cross row, be it at an angle or driectly 90 degrees, much of the wheat will have to grow the full 7.5" to access the band. You can draw this on a piece of paper and see how it works.

 FWIW, I agree with your idea of placing the fertilizer under the surface. I have been doing this now for 2 springs and have had great luck with it. However, I prefer to mid row band the N and S. I band about 70% +/- of the N and S this way. I have been trying to get my fall strip till setup going to do this same thing in the fall, but with a lot less N as we have a lot of rain that will leech it out before green up in the spring.

 As far as covering the fert, if you run the bander in front of the drill and have it set pretty tight for spacing tolerance, the drill will do the closing when the openers come upon the band slot. I have gone to twin row spacing for this reason. I am now on 4" twin row on 15" centers. This is the same opener count as a 7.5" drill, but the mid row band is only now 2" to the side and 3"+ down from the seed. The drill will close any fertilizer opening. I put down some 3-18-18 with water in the seed trench. I really like this method for my area and croppings as with the water mixed in with the fert, I can add fungicide and insecticides to individual fields while using the same seed on all the fields.